The EB-5 Investor Program offers qualified foreign nationals the opportunity to obtain permanent U.S. residency by investing in federally approved projects in the United States. The investor program offers many benefits to immigrants, including access to U.S. educational institutions, the opportunity to live, work, and retire in the U.S., the ability to recoup the investment upon successful completion of the chosen project, and residency for the investor, his or her spouse, and any unmarried children under the age of 21.

The EB-5 investor program is one path that can lead to citizenship and a 2nd passport. However, many applicants wonder if dual citizenship can be maintained. Business owners looking to expand their operations may seek dual citizenship. This question is somewhat complex and has two different answers. Holding two passports depends largely on the foreign national’s home country.

What is dual citizenship

The term dual citizenship refers to being a citizen of two different countries and enjoying the rights and privileges of both. There are many countries that allow their citizens to have dual citizenship. However, there are also countries that do not allow it. Then there are countries that allow dual citizenship under certain conditions.

Spain, for example, only allows dual citizenship with certain Latin American countries. There are countries that do not allow dual citizenship at all. These countries include China, Saudi Arabia, and India. When citizens obtain citizenship of another country, their citizenship of their home country is revoked with immediate effect. In countries such as China and Saudi Arabia, it is a criminal offense to take on the citizenship of another country without first renouncing the citizenship of your home country.

The term multiple citizenships refers to having citizenship in more than two countries.

Of course, there is a distinct difference between citizenship and permanent residence. As a permanent resident, you retain the citizenship of your home country, but you can enter and leave the second country without needing a visa. Permanent residents do not have the same rights as citizens of a country. Permanent residency allows a national to make their chosen country their home, provided they comply with tax laws and security regulations. In addition, permanent residents do not have political rights, such as the right to vote or hold office.

Which countries allow dual citizenship

There are 64 countries in the world that allow dual citizenship. Most of these countries are in Europe, North America, and Latin America. Some Asian and African countries allow dual citizenship. Dual citizenship largely depends on the foreign national’s home country and whether that country recognizes dual citizenship. Many countries allow and recognize dual citizenship with the United States.

Citizenship by investment

Investment opportunities such as the EB-5 investor program are the fastest route to gaining citizenship in another country. Due diligence is required in determining if the home country of the foreign national will allow for dual citizenship and if denouncing citizenship in the home country is desired.

Permanent residents, such as those participating in the EB-5 investor program, may only have one passport. This is the passport of their home country. Once the permanent resident decides to pursue citizenship, he/she must determine if dual citizenship is an option for them or if they are required to renounce citizenship in their home country, in order to obtain a US passport.

If the home country of the foreign national does recognize and allow dual citizenship, this should not be a problem. It would be best to check the laws of the home country before applying for or pursuing second citizenship.